QIA Qualified Internal Auditor Questions and Answers

$204,000

$196,000

$199,000

$199,800

Shifts some of the responsibilities away from the auditors towards others such as work teams.

Allocated additional responsibilities to internal audit.

Reduces the level of collaboration required between managers and internal auditor.

Allows assessment to be carried out without any internal audit involvement whatsoever, therefore allowing them to focus their attention on other areas of theorganization.

The majority of travel advances in theorganizationexceed the prescribed maximum.

Travel advances are not controlled in accordance with existing policy.

The prescribed maximum travel advance is too low.

76% of all travel advances exceed the management prescribed maximum.

Imposition of corrective measures.

Participation with auditees to improve methods.

Fraud investigation.

Implementation of policies and procedures.

Reviewing the systems flowchart.

Performing a "walk-through" of the processing and obtaining copies of all documents used.

Reviewing the programming flowchart for evidence of control procedures placed into the computer programs.

Interviewing the treasurer.

Not mention the weakness, directly or indirectly, to avoid making the clerk uncomfortable.

Ask indirect questions that will help get more factual information relating to the potential weakness.

Ask the clerk about the weakness and determine immediately if the finding should be reported.

Conduct a second interview after determining whether the weakness actually exists.

Being willing to prosecute.

Ostracizingwhistle-blowers.

Overlooking inefficiencies in the judicial system.

Accepting the lack of integrity in the system.

Examination of the shipping documents supporting recorded transfers to and from the warehouse.

Obtaining written confirmation from management.

Physically observing the inventory in the warehouse.

Examination of warehouse receipts contained in the auditee's records.

The same rules might not be suitable for every company

There are some aspects of corporate governance that cannot be regulated easily

Companies do not have the choice of ignoring the rules

The most suitable corporate governance practices can differ between companies